State Program Performance Data – Tableau Test

State Program Performance Data

* Data under each of these sections above is from state auto-IRA programs and cumulative across all programs, unless otherwise noted (e.g., the monthly individual state program specific data).

Monthly Individual State Program Specific Data & Trends

California

Key Program Metrics Snapshot
(as of January 31, 2023)

Program Performance Indicators, Monthly Percent Change
(as of January 31, 2023)

12/31/22 1/31/23 Percent Change

12/31/22 -1/31/23
Total Assets $372,979,988 $423,386,300 13.5%
Total Funded Accounts 395,972 403,090 1.8%
Total Withdrawals $68,275,908 $75,909,514 11.2%
Accounts with Withdrawals 69,577 74,678 7.3%
Average Deferral Rate 5.07% 5.15%
Average Monthly Contribution Amount $169 $173 2.4%
Average Funded Account Balance $942 $1,050 11.5%
Effective Opt Out Rate 36.84% 36.69%
Total Registered Employers 115,705 117,102 1.2%
Employers That Added Employee Data 94,552 96,632 2.2%
Employers Submitting Payroll Deductions (last 90 days) 33,802 34,290 1.4%
Total Exempted Employers 119,103 123,085 3.3%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from  CalSavers

Illinois

Key Program Metrics Snapshot
(as of February 28, 2023)

Program Performance Indicators, Monthly Percent Change 
(as of February 28, 2023)

01/31/23 02/28/23 Percent Change 01/31/23-02/28/23
Total Assets $107,430,269 $106,850,685 -0.5%
Total Funded Accounts 118,218 119,906 1.4%
Total Withdrawals $30,625,588 $32,005,483 4.5%
Accounts with Withdrawals 28,641 29,378 2.6%
Average Deferral Rate 5.95% 5.93%
Average Monthly Contribution Amount $136.21 $146.81 7.8%
Average Funded Account Balance $908.75 $891.12 -1.9%
Effective Opt Out Rate 32.24% 32.16%
Total Registered Employers 9,407 9,457 0.5%
Employers That Added Employee Data 7,445 7,624 2.4%
Employers Submitting Payroll Deductions (last 90 days) 3,360 3,520 4.8%
Total Exempted Employers 23,673 23,836 0.7%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from IL Secure Choice.

Oregon

Key Program Metrics Snapshot
(as of January 31, 2023)

Program Performance Indicators, Monthly Percent Change
(as of January 31, 2023)

12/31/2022 1/31/2023 Percent Change

12/31/22-1/31/23 

Total Assets $168,705,846  $182,053,048   7.9%
Total Funded Accounts   115,863  114,514   -1.2%
Total Withdrawals   $70,672,308  $73,965,180   4.7%
Accounts with Withdrawals 34,521  35,970   4.2%
Average Deferral Rate   6.0%   6.7%
Average Monthly Contribution Amount $157 $160 1.9%
Average Funded Account Balance $1,456 $1,590   9.2%
Opt-Out Action Rate 24.1% 23.9%
Total Registered Employers 17,671 18,054   2.2%
Employers That Added Employee Data 16,059 16,496 2.7%
Employers Submitting Payroll Deductions (last 90 days)   5,234 5,261 0.52%
Total Exempted Employers 33,657  33,780 0.37%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from  OregonSaves. Opt-out Action Rate = savers who opt-out only within the last 30 days

Connecticut

Key Program Metrics Snapshot
(as of January 31, 2023)

Program Performance Indicators, Monthly Percent Change
(as of January 31, 2023)

12/31/22 1/31/23 Percent Change

12/31/22-
1/31/23 

Total Assets $1,573,216 $2,152,738 36.8%
Total Funded Accounts 6,766 7,617 12.6%
Total Withdrawals $26,791 $58,349 117.8%
Accounts with Withdrawals 149 236 58.4%
Average Deferral Rate 3.24% 3.29%
Average Monthly Contribution Amount $98 $87 -10.8%
Average Funded Account Balance $233 $283 21.6%
Opt-Out Action Rate 23.4% 21.4%
Total Registered Employers 876 1,038 18.5%
Employers Submitting Payroll Deductions (last 90 days) 392 465 18.6%
Total Exempted Employers 3,488 3,650 4.6%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from MyCTSavings. Opt-out Action Rate = savers who opt-out only within the last 30 days

Monthly Cumulative State Program Performance Metrics (CA, IL, OR, and CT)

Key Program Metrics Snapshot (CA, IL, OR, and CT)
(as of January 31, 2023)

Program Performance Indicators
Monthly Percent Change
(as of January 31, 2023)

12/31/22 1/31/23  Percent Change 12/31/22-1/31/23
Total Assets $641,725,469 $715,022,356 11.4%
Total Funded Accounts 634,817 643,439 1.4%
Total Registered Employers 143,564 145,601 1.4%
Employers That Added Employee Data¹ 117,822 120,573 2.3%
Employers Submitting Payroll Deductions (Past 90 Days) 42,472 43,376 2.1%
Exempted Employers 179,622 184,188 2.5%
¹Excludes data from MyCTSavings

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, and OregonSaves.

Massachusetts
Key Program Metrics Snapshot
(as of December 31, 2022)

Washington
Key Program Metrics Snapshot
(as of June 2020)

Quarterly State Program Performance Data & Trends

California

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12/31/21 6/30/22 Percent Change 12/31/21-6/30/22 9/30/22 12/31/22 Percent Change 9/30/22-12/31/22 Percent Change

12/31/21-12/31/22
Total Assets $173,022,007

 

 $223,049,153 28.9% $272,215,635 $372,979,988 37.0%

 

 115.6%

 
Total Funded Accounts 217,892

 

 276,862 27.1% 360,237 395,972 9.9%

 

 81.7%

 
Total Withdrawals $20,493,838

 

 $40,893,704 99.5% $53,300,368

 

 $68,275,908 28.1% 233.2%

 
Accounts with Withdrawals 32,923

 

 48,693 47.9% $58,869 $69,577 18.2%

 

 111.3%

 
Average Deferral Rate 5.02%

 

 5.08% 5.07% 5.07%
Average Monthly Contribution Amount $150

 

 $168 12.0% $166 $169 1.8%

 

 12.7%

 
Average Funded Account Balance $794

 

 $806 1.5% $756 $942 24.6%

 

 18.6%

 
Effective Opt Out Rates 29.74% 36.64% 37.41% 36.84%
Total Registered Employers 23,203

 

 98,417 324.2% 109,245 115,705 5.9%

 

 398.7%

 
Total Added Employee Data 15,008 63,474 322.9% 88,498 94,552 6.8%

 

 530.0%

 
Employers Submitting Payroll

Deductions (last 90 days)

 N/A 13,755¹ 53.5% 31,051

 

 33,802 8.9%

 

 N/A

 
¹I¹California began reporting Actively Submitting Payroll (Past 90 Days) on February 28, 2022.

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers.

Illinois

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12/31/21

 

 6/30/22 Percent Change 12/31/21-6/30/22

 

 9/30/22

 

 12/31/22

 

 Percent Change 9/30/22-12/31/22

 

 Percent Change 

12/31/21-12/31/22

 
Total Assets $84,871,970 $82,742,994 -2.5%

 

 $83,977,073 $98,466,419 17.3%

 

 16.0%

 
Total Funded Accounts 99,082 105,459 6.4%

 

 109,346 116,216 6.3%

 

 17.3%

 
Total Withdrawals $15,539,645 $22,369,318 43.9%

 

 $25,695,321 $28,766,940 12.0%

 

 85.1%

 
Accounts with Withdrawals 20,796 24,625 18.4%

 

 26,094 27,506 5.41% 32.27%
Average Deferral Rate 5.05% 5.56% 5.53% 5.49%
Average Monthly Contribution Amount $118.19 $135.14 14.3%

 

 $144 $131 -9.5%

 

 10.5%

 
Average Funded Account Balance $856.58 $784.60 -8.4% $768 $847 10.3%

 

 -1.1%

 
Effective Opt Out Rates 33.30% 32.80% 31.92% 32.17%
Total Registered Employers 6,408 6,498 1.4%

 

 7,486 9,312 24.4%

 

 45.32%
Total Added Employee Data 4,315 4,450 3.1%

 

 5,148 7,211 40.1% 67.1%
Employers Submitting Payroll Deductions (last 90 days) N/A 2,333¹ N/A

 

 2,404 3,044 26.6% N/A
¹Illinois began reporting Actively Submitting Payroll (Past 90 Days) on April 30, 2022.

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from IL Secure Choice.

Oregon

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12/31/21 6/30/22 Percent Change 12/31/21-6/30/22 9/30/22 12/31/22

 

 Percent Change 9/30/22-12/31/22

 

 Percent Change 

12/31/21-12/31/22

 
Total Assets $150,010,539 $146,004,291 -2.7% $148,185,293 $168,705,846 13.9% 12.5%

 
Total Funded Accounts 112,689 115,046 2.1% 115,569 115,863 0.3% 2.8%

 
Total Withdrawals $39,274,450 $54,286,395 38.2% $62,368,689 $70,672,308 13.3% 79.9%

 
Accounts with Withdrawals 20,314 27,577 35.8% 31,153 34,521 10.8% 69.9%

 
Average Deferral Rate 5.60% 6.20% 6.10% 6.00%
Average Monthly Contribution Amount $166 $176 6.0% $159 $157 -1.3% -5.4%
Average Funded Account Balance $1,331 $1,269 -4.7% $1,282 $1,456 13.6% 9.4%

 
Effective Opt Out Rates *N/A 25.6%1 24.8%1 24.1%1
Total Registered Employers 17,025 17,037 0.07% 17,187 17,671 2.8% 3.8%

 
Total Added Employee Data 14,931 15,146 1.4% 15,516 16,059 3.5% 7.6%

 
Employers Submitting Payroll Deductions (last 90 days) N/A 5,2802 N/A 5,2622 5,234 -0.53% N/A
1In March 2022, OregonSaves began reporting an Opt-Out Action Rate defined as percentage of savers who opt out in the first 30 days.

2Oregon replaced Total submitting Payroll Contributions with Actively Submitting Payroll (Past 90 Days) on March 30, 2022.
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from OregonSaves.

Quarterly Cumulative State Program Performance Metrics (CA, IL, and OR)

Download full chart (PDF)

  12/31/21 6/30/2022

 

 Percent Change 12/31/22-6/30/22 9/30/22

 

 12/31/22

 

 Percent Change 9/30/22-12/31/22

 

 Percent Change 

12/31/21-12/31/22

 
Total Assets $407,904,516 $451,796,438 12.40% $504,378,001 $640,152,253 26.9% 56.9%

 
Total Funded Accounts 429,663 497,367 0.01% 585,152 628,051 7.3% 46.2%
Total Registered Employers 46,636 121,952 0.02% 133,918 142,688 6.5% 206.0%
Total Added Employee Data 34,254 83,070 0.28% 109,162 117,822 7.9% 244.0%
Employers Submitting Payroll Deductions (last 90 days) N/A 22,114¹ N/A 39,581¹ 42,994¹ 8.6% N/A
1Oregon replaced Total submitting Payroll Contributions with Actively Submitting Payroll (Past 90 Days) on March 30, 2022.

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, and OregonSaves.

Semi-Annual and Annual State Program Performance Data & Trends

Semi-Annual and Annual State Program Performance Metrics (CA, IL, and OR)

12/31/21 6/30/2022 Percent Change 12/31/22-6/30/22 12/31/22 Percent Change 6/30/22-12/31/22 Percent Change 

12/31/21-12/31/22
Total Assets $407,904,516 $451,796,438 10.76% $640,152,253 41.69% 56.9%
Total Funded Accounts 429,663 497,367 15.76% 628,051 26.28% 46.2%
Total Registered Employers 46,636 121,952 161.50% 142,688 17.00% 206.0%
Total Added Employee Data 34,254 83,070 142.51% 117,822 41.83% 244.0%
Employers Submitting Payroll (Past 90 Days) N/A 22,114¹ N/A 42,994¹ 94.42% N/A
¹In March 2022 (as part of April 30, 2022 dashboard report), OregonSaves began reporting Actively Submitting Payroll (Past 90 Days) instead of Total Submitting Payroll.
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, and OregonSaves.
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